Gartmore fund manager Guillaume Rambourg resigns to clear name

The Gartmore analyst at the centre of a Financial Services Authority
investigation has resigned from the fund ­manager just two months after
being reinstated following an internal inquiry.

By Harry Wilson, Financial Services Correspondent

9:36AM BST 15 Jul 2010

Guillaume Rambourg, a senior investment analyst at Gartmore, yesterday gave up his job saying he wanted to devote himself to clearing his name.

The announcement of Mr Rambourg's resignation came after the market closed. Gartmore shares fell 5pc to 105p on Thursday as investors reacted to the news.

Shares in the fund manager have halved in price since the original internal investigation was announced in April.

In a statement to the market, Jeff Meyer, chief executive of Gartmore, said he respected Mr Rambourg's decision. "Guillaume Rambourg has concluded that under the ­current circumstances he is unable to fully contribute to the performance of the business," said Mr Meyer.

In his own statement, Mr Rambourg called his decision "very difficult and personal".